A Hire Purchase agreement is where the financier owns the equipment and gives (or hires) possession and use to you in return for regular repayments. When the final payment is made you own the goods.

However for tax purposes, the customer is regarded as the owner from commencement of the Hire Purchase Agreement and if goods are used to generate income for the business then depreciation and interest charges that relate to the hire purchase are tax deductible.

The payments are generally paid either monthly, quarterly, semi-annually or annually. If you a have a business that has seasonal income, you can elect to make your repayments on a seasonal or irregular basis.

For further details please complete the Make Your Enquiry form or Contact Us at Broadlink.